Cisco hands a 27-year-old engineer the keys to a sweeping code rewrite
Photo: Tima Miroshnichenko / Pexels
President Jeetu Patel plucked a young engineer from deep in the org chart and gave him unlimited AI tokens to refactor Cisco's code
Cisco Systems Inc. (CSCO) price
Full chart and statsLoading chart…
- Last close
- $109
- Close-to-close change
- −1.5%
- Market cap
- $428.1B (shares as of 2026-08-27)
- P/E (trailing)
- 32.6 (EPS to 2026-07-25)
- Annual revenue
- $63.3B USD (FY ended 2026-07-25) 10-K
- Annual revenue growth
- +11.8% (FY ended 2026-07-25 vs FY ended 2025-07-26) 10-K
- Annual net income
- 13,267,000,000 USD (FY ended 2026-07-25, attributable to the company) 10-K
- Annual operating margin
- 24.3% (FY ended 2026-07-25)
- Forward P/E
- Unavailable: no dated forecast source
Gloria daily close for session Oct 29, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
Cisco Systems Inc. and its peers
| Company | Price | Market cap | P/E (trailing) | Forward P/E | Annual revenue (USD) | Annual revenue growth | Annual net income (USD) | Operating margin |
|---|---|---|---|---|---|---|---|---|
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$109 | $428.1B | 32.6 | Unavailable | $63.3BFY ended 2026-07-25 · 10-K | +11.8%FY ended 2026-07-25 vs 2025-07-26 · 10-K | 13,267,000,000FY ended 2026-07-25, attributable to the company · 10-K | 24.3%FY ended 2026-07-25 |
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$184 | $232.3B | 58.3 | Unavailable | $9.0BFY ended 2025-12-31 · 10-K | +28.6%FY ended 2025-12-31 vs 2024-12-31 · 10-K | 3,511,400,000FY ended 2025-12-31, attributable to the company · 10-K | 42.8%FY ended 2025-12-31 |
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$476 | $304.3B | 27.7 | Unavailable | $113.5BFY ended 2026-01-30 · 10-K | +18.8%FY ended 2026-01-30 vs 2025-01-31 · 10-K | 5,936,000,000FY ended 2026-01-30, attributable to the company · 10-K | 7.2%FY ended 2026-01-30 |
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$381 | $311.3B | 951.4 | Unavailable | $11.5BFY ended 2026-07-31 · 10-K | +24.5%FY ended 2026-07-31 vs 2025-07-31 · 10-K | 307,000,000FY ended 2026-07-31, attributable to the company · 10-K | 6.1%FY ended 2026-07-31 |
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 29, 2026, 12:51 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Cisco just gave one of its most consequential engineering jobs to someone who, until recently, sat five rungs below the executive suite. He is 27 years old.
Jeetu Patel, Cisco’s president and chief product officer, picked the young engineer to lead a major code refactoring effort. He also handed over something most developers can only dream about: an unlimited budget for AI.
Unlimited tokens and a mandate to go big
Patel described the move to Fortune at a small roundtable dinner. He said he found the engineer “five levels” beneath him in the company hierarchy.
“I’ve given him unlimited tokens because he’s going to refactor code,” Patel told Fortune. “So I’m like, you can go, you can go nuts.”
Tokens are the small chunks of text that AI models read and write, and companies pay for them by usage. Refactoring means restructuring existing code without changing what it does.
Cisco’s bigger AI bet
The promotion is one piece of a much larger push. Cisco is moving its engineering workforce of approximately 32,000 employees toward an AI-centric way of building software.
The targets are aggressive. Cisco aims to have six fully AI-written products by the end of 2026. By 2027, it wants 70% of its offerings to be entirely AI-generated.
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The company also plans to eliminate all of its legacy code within two years.
There is at least one data point suggesting the approach can move fast. One refactor project shrank a codebase from 500,000 lines to 120,000 lines in two weeks.
Patel has framed the effort through a “founder mode” lens, treating Cisco more like a startup than a decades-old incumbent. In his view, AI handles the routine coding work. Human engineers get freed up for harder, more strategic problems.
The carrot comes with a stick. Patel has mandated adoption of AI tools, and non-compliance carries potential job risks. Cisco has also started folding token budgets into managers’ headcount budgets.
When AI spending and hiring come out of the same pot, every manager faces a direct trade-off between another engineer and more compute.
The business behind the bet
Cisco is not just consuming AI. It is selling the plumbing for it. The company’s AI infrastructure business has grown to $9.3 billion in orders over the last two years.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
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